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Continuous Accounting: A Paradigm Shift for Finance Teams

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
  Article Summary  
Contrasted with the record-to-report accounting model in widespread use over the last century, continuous accounting is a paradigm shift for finance teams.

The record-to-report model treats an accounting cycle as a repeatable, end-to-end process - beginning with transaction recording and progressing through financial statement publication.

But 21st century businesses require the principles of continuous accounting that go beyond reporting on historical data to deliver higher levels of automation, data integration, and real-time intelligence.

Much more than automating existing processes, continuous accounting leverages the functionality and flexibility of modern accounting software by embedding automation, control and period-end tasks in all day-to-day financial activities.

Reviewed in the full PDF are continuous accounting’s three core principles, four key benefits, and an example of how it differs from the record-to-report model.

Los Angeles and Southern California executives interested in learning more about the how continuous accounting can increase efficiencies and deliver real-time intelligence can benefit from talking with a provider of outsourced CFO services.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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